Read this article: Ontology is Overrated: Categories, Links, and Tags (warning, it's a long-ish one)
This one definitely has a flavor of information magically being generated by everyone working together, but it doesn't go off the deep end. This was good and brought up several issues that I hadn't thought about. Largely how most current organizational systems are snapshots of how the organizers/designers view the world, and not really how the world is truly arranged.
Quick example, the Dewey Decimal System's organization of religions:
Dewey, 200: Religion
210 Natural theology
220 Bible
230 Christian theology
240 Christian moral & devotional theology
250 Christian orders & local church
260 Christian social theology
270 Christian church history
280 Christian sects & denominations
290 Other religions
Does it seem to have a certain assumption about how the world is organized? Ditto with the LOC; there are areas of categorization that have no real basis on how the world exists but rather on how it's efficient to store the physical books. For a system that deals with the physical books, and not just the ideas inside the books this is necessary and good, but it is an artificial constraint when dealing with electronically stored information. Yahoo kept some of the physical constraints even though they have an electronic information system.
One of the things the writer doesn't really go into, is that while the information generated by the masses all assigning their own 'tags' to information like webpages is very useful and possibly one of the 'best' ways to get around organic, large, blobs of information, it VERY quickly breaks down when detailed or specialized information is reliably needed.
Want to rely on the Internet to give you the right places to brush up on brain surgery? I hope not! Want to rely on the Internet to give you the best places to get information about buying a digital camera. Internet rules! Want to rely that the Internet will point you to accurate information about population statistics? Well, maybe if you're careful.
Anyway, I thought it was a cool article!